Real estate sales is a fast-paced career and there’s no doubt that opportunities present themselves at unexpected random moments – are you ready?
Many people share similar reasons for switching to a career in real estate. They recognise that real estate rewards effort.
Career advancement doesn’t rely on the person ahead of them leaving their job to create the vacancy. It doesn’t rely on the boss liking one candidate over another at promotion time.
Success in real estate simply relies on winning the listings and closing the sale. The harder you work at those two goals, the more successful you will be.
Of course, success means different things to different people. For Place agent Cathy Richards, success means leaving a part-time wage and being able to buy property and take her children on overseas holidays. For bank worker Simon Pressley, success means being his own boss and building a strong business that provides data and analysis to real estate investors.
Building your successful real estate career does require momentum and it means seizing opportunities that present themselves.
Here are five tips that will help you ensure you will be ready to move up to the next level of success when opportunity knocks at your door.
- Know more than everyone else in the room: In other words, be an expert on the market that you’re working in. Understand the data, understand the real world figures. When it comes to negotiating, don’t bluff. Be certain. Know what you’re talking about, including the legislation. This will give you confidence and the person across the table will know that you’re the expert. Study the data in quarterly reports such as the REIQ Queensland Market Monitor (which uses data from CoreLogic and is free to REIQ members). Know what developments are on the horizon. Know what the zoning laws allow, know what renovations are possible (and what are not) and what Neighbourhood Plans are in place.
- Have the next step planned: It feels like you’ve just got your registration licence and you’re still getting your feet under the desk, but the successful sales people all agree – have the next step planned already. You may be selling in a suburb where the median house price is $400,000, but if you identify the nearby suburb where the median is $800,000 you will be ready when an opportunity to list in that suburb crops up unexpectedly. Know everything about that suburb – where are the schools, what shops are there, what are the best streets where the most expensive homes are.
- Learn how to listen: Really listening to people is a rare skill. It means remaining quiet and allowing others to speak without interruption. Observe a conversation. See how people tend to talk over the end of each other’s sentences and interrupt? That’s because they are more focused on talking than listening. They want the other person to hear what they are saying, more than they want to listen. A good real estate agent will ask questions and then be quiet to allow the other person to speak. This is the number-one skill that every top agent has in their arsenal. It is a skill that must be practiced. And if you are always listening, you will definitely hear opportunity knocking.
- Be organised, be prepared: So much of success in real estate is all about putting the right processes in place. REIQ Salesperson of the Year 2016 Mark McGill said he spent weeks, even months, setting up his customer relationship management software and tweaking it and fine-tuning it. But that has paid dividends now. “It’s very simple now for me to stay in touch with everyone in my database. I’ve got a system and it works. I constantly monitor and maintain it, but it’s worth it and this frees me up to spend time winning listings and selling properties,” he said.
- Have your ducks in a row: As your sales career grows and you can see that next level of success looming, make sure you have all your ducks in a row now. Have you got a scalable CRM, have you got your processes in place and working smoothly, have you got all of your qualifications completed? A highly successful sales agent from the Brisbane region was building momentum in a rocketing sales career when an opportunity came knocking to set up her own business. She said “I needed my licence qualifications, but when was I going to find time to take 10 days out to do my licensing course?” Her quick solution was to have her husband do the course while she continued her booming career trajectory. But she admits if she had her time again she’d do her rego and licencing courses at the same time. “It would have been much easier to upgrade my qualifications at the time,” she said. Upgrade your registration qualifications to a full licence now with REIQ. Learn more about our licencing courses and options here. http://www.myrealestatejobs.com.au/upgrade/